Ron Baron

Ron Baron

Last Update: 01-10-2017

Number of Stocks: 309
Number of New Stocks: 24

Total Value: $18,864 Mil
Q/Q Turnover: 2%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Ron Baron' s Profile & Performance

Profile

Ron Baron is the founder of Baron Capital Management. He is Co-Portfolio Manager of Baron Asset Fund and remains Portfolio Manager of the Growth and Partners Funds. Baron graduated from Bucknell University with a B.A. in Chemistry, and later attended George Washington University Law School in the evenings.

Web Page:http://www.baronfunds.com/

Investing Philosophy

Ron Baron invests primarily in small and mid-size growth companies. He likes companies with open-ended growth opportunities and defensible niches. He applies a bottom-up company research, invests for the long-term, and tries to purchase companies at what he believes are attractive prices. He invests in growth companies using a value-oriented purchase discipline. Baron ignores short-term market fluctuations when he believes the fundamental reasons for purchasing a company have not changed. He holds investments for longer than five years on average.

Total Holding History

Performance of Baron Partners Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
2015-2.711.19-3.9
201410.2613.69-3.4
201347.6332.3915.2
3-Year Cumulative58.4 (16.6%/year)52.3 (15.1%/year)6.1 (1.5%/year)
201216.4160.4
2011-5.742.11-7.8
5-Year Cumulative73.8 (11.7%/year)80.4 (12.5%/year)-6.6 (-0.8%/year)
201031.5215.0616.5
200928.226.461.7
2008-46.67-37-9.7
200711.345.495.9
200621.5515.795.8
10-Year Cumulative111.4 (7.8%/year)102 (7.3%/year)9.4 (0.5%/year)
200514.374.919.5
200442.3510.8831.5
200334.9528.686.3
2002-18.07-22.14.0
2001-15.71-11.89-3.8
15-Year Cumulative220.8 (8.1%/year)107.5 (5%/year)113.3 (3.1%/year)
20004.82-9.113.9
199918.4221.04-2.6
199811.6828.58-16.9
199749.8833.3616.5
199616.1322.96-6.8
20-Year Cumulative674.1 (10.8%/year)381.4 (8.2%/year)292.7 (2.6%/year)
199536.9437.58-0.6
19944.761.323.4
199328.7810.0818.7
199216.837.629.2

Top Ranked Articles

Baron Funds Comments on Vantiv Inc. Guru stock highlight
Further down the payments value chain sit merchant acquirers and processors, who act as the “sales and distribution” arm of the payments industry. Acquirers enable merchants to accept credit and debit card payments by connecting them to the various networks. Vantiv, Inc. (NYSE:VNTV) is a leading merchant acquirer and payment processor in the U.S. that directly benefits from growth in consumer spending and the secular shift from cash to electronic payments. The company is gaining share due to investments in integrated payments technology and e-commerce capabilities. A significant industry shift toward chip-based, EMV cards should drive continued strong organic growth, in our view. Read more...
Baron Funds Comments on AO World plc Guru stock highlight
We are participating in the secular shift to digital commerce through other investments as well. Our holding AO Worldplc (LSE:AO.) is the U.K.’s leading online retailer of major domestic appliances (e.g., refrigerators, ovens, and dishwashers). We think AO derives its competitive advantage from a unique supply chain and customized software. We believe the company can be several times larger over the next several years given its expansion into new product categories and into continental Europe. Read more...
Baron Funds Comments on The KEYW Holding Corp Guru stock highlight
The KEYW Holding Corporation (NASDAQ:KEYW) is a government services company that specializes in cybersecurity and intelligence gathering applications. Shares have increased dramatically since fourth quarter earnings. At that time, the incoming CEO announced his strategic initiatives to drive growth in the core services business, and to stem operating losses and/or sell KEYW’s money losing commercial cybersecurity software business. In the second quarter, management executed against this strategy by completing the divestiture of the commercial software business, and by significantly increasing its backlog of government services business. This has started to unlock what he have always believed is the hidden value in the company. The market has finally recognized this as well, and the stock now trades at a more reasonable sector valuation. Read more...
Baron Funds Comments on Gartner Guru stock highlight
Shares of Gartner, Inc. (NYSE:IT), a provider of syndicated IT research, gained after reporting several impressive forward-looking metrics. We believe that growth in the contract value of its research subscriptions and trends in its salesforce productivity are approaching levels sufficient to drive margin expansion. In addition, its client retention rates are at all-time highs. We believe that Gartner has potential to generate accelerating revenue growth and significant growth in earnings and free cash flow. We believe this will continue to lead to consistent return of capital in the form of ongoing share buybacks. Read more...
Baron Funds Comments on Brookfield Asset Management Guru stock highlight
Shares of Brookfield Asset Management, Inc. (NYSE:BAM) rose in the first quarter due to strong conditions in most of its business segments. The company is a global alternative asset manager with approximately $200 billion in assets under management, with a focus on real estate property, infrastructure, renewable energy, and private equity. A high quality portfolio, stable cash flows and attractive growth opportunities, global scale, a quality balance sheet, and an excellent management team with significant insider ownership support our favorable view. Read more...
» More Ron Baron Articles

Commentaries and Stories

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Manchester United: England’s Most Valuable Football Club Stock is up 10% year to date and Ron Baron is a major shareholder Ron Baron - Manchester United: England’s Most Valuable Football Club
Not sure if legendary investor Ron Baron is a fan of the sport or supporter of the club, but his 37% stake (via Bamco) is at least one reason to think about this stock, even if you’re not a fan of European football. Throw in small positions from Renaissance Technologies and DE Shaw, and it’ll be worth reading more. More...

FOOTBALL, SOCCER, MANUTD, MANCHESTER UNITED, MANU, SPORT


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Baron Funds Comments on Qualys Guru stock highlight
Cybersecurity Cybersecurity is another IT area in which we are finding promising investment opportunities, although the intense competition in this space means it is important to be selective. Qualys, Inc. (NASDAQ:QLYS) is a cloud-based cybersecurity services provider to large corporate clients that specializes in assessing software vulnerabilities of hardware attached to internet networks. Qualys is accelerating its growth and continues to trade at what we believe is a reasonable multiple of real free cash flow, whereas many of its peers are still losing money. It’s a fully subscription-based business, which leads to high revenue visibility. More...

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Baron Funds Comments on PaciraPharmaceuticals Guru stock highlight
Other companies we favor have wrapped intellectual property around an already proven pharmaceutical to create a new, protected franchise. The risk of not receiving approval for such products is significantly lower than for a typical bio-pharma investment. An example is PaciraPharmaceuticals, Inc. (NASDAQ:PCRX), whose FDA-approved medication is comprised of the pain killer bupivacaine combined with proprietary IP called Depo-Foam that enables its timed release. The product is appealing as it can in many cases eliminate the need for post-operative opiates and result in a shorter hospital stay. More...

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Baron Funds Comments on Education Realty Trust Guru stock highlight
Education Realty Trust, Inc. (NYSE:EDR) is an example of a ballast company. It is the second largest U.S. student housing operator, with a $2 billion portfolio nationwide. We believe we are in the early innings of an outsourcing trend in which universities constrained by tighter budgets are reaching out to the private sector to develop and operate student housing. We think the company will benefit from the resulting increases in occupancy and rents as well as the build-out of its development pipeline. More...

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Baron Funds Comments on MACOM Technology Solutions Holdings Guru stock highlight
Growth These are companies that typically have revenue growth of 15%-20% that we think will lead to significant future earnings growth. These companies are generally more established than the higher growth companies in which we invest. An example is MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI), a high performance analog semiconductor company. MACOM sells its semiconductors, components, and subsystems to the communications, aerospace/defense, and industrial (including medical) markets. MACOM’s engineered analog chips are valuable IP-protected products. Their value is borne out by high operating margins of 23% (which we believe can expand to 40%). We believe the company can triple its revenues to $1.5 billion over the next five years, and increase profits even faster. We think its addressable market is $9.5 billion. More...

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Baron Funds Comments on Wingstop Inc. Guru stock highlight
Another example of a high growth company is Wingstop Inc. (NASDAQ:WING), a franchisor of Wingstop fast-casual restaurants, which offer a chicken wing-based menu. Wingstop offers franchisees high returns on new units at a relatively low initial investment. This attractive feature, combined with innovative marketing, has driven industry-leading unit and same-store-sales growth over the past few years, which we believe can continue for several more years. With 98% of its units franchised, we believe Wingstop will be highly capital efficient, eventually allowing management to return significant amounts of capital to shareholders. More...

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Baron Funds Comments on Glaukos Corporation Guru stock highlight
High growth These are higher risk/return companies typified by revenue growth of 20% or more that we believe will lead to dramatic earnings growth in the future. This category includes newer businesses with novel products or services. Yet these companies are not venture businesses. An example is Glaukos Corporation (NYSE:GKOS), a medical device company that sells a stent used to treat glaucoma, a disease that damages the optic nerve due to fluid buildup inside the eye. Glaukos’ first generation device, which is inserted into the eye during cataract surgery, has been proven to decrease intraocular pressure. Glaukos also has a promising product pipeline that includes next generation stents for stand-alone glaucoma procedures and an injectable drug delivery implant. The company has a two-year lead over its competitors, patent protection, and strong clinical data. We believe the addressable market exceeds $5 billion. More...

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Investing in Earlier Stage Small Cap Growth Companies - Baron Discovery Fund Commentary from Randy Gwirtzman and Laird Bieger, co-portfolio managers Ron Baron - Investing In Earlier Stage Small Cap Growth Companies - Baron Discovery Fund
Baron Capital got its start investing in small cap stocks and currently has three small cap Funds. We launched our newest offering, Baron Discovery Fund, a little over three years ago to cover stocks with market caps typically at or below the weighted average of the Russell 2000 Growth Index (now under $1.8 billion). More...

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Baron Funds Cuts Positions in Inovalon and Moelis Guru sells 60% of stake in health technology company as outlook weakens Ron Baron - Baron Funds Cuts Positions In Inovalon And Moelis
Baron Funds, where Ron Baron (Trades, Portfolio) is CEO and chief investing officer, invests in companies with open-ended growth and defensive opportunities. During the past few days, the guru reduced his position in Inovalon Holdings Inc. (NASDAQ:INOV) and Moelis & Co. (NYSE:MC) as the companies have poor business outlooks. More...

RON BARON


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Valero Energy Upgraded by Bank of America Merrill Lynch Deutsche Bank downgraded the energy stock from Buy to Hold the same day Joel Greenblatt,Ron Baron,David Dreman,Ken Fisher - Valero Energy Upgraded By Bank Of America Merrill Lynch
Valero Energy Corp. (NYSE:VLO) got two opposite ratings Jan. 5. More...

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2 Gurus Add to Their Stakes in Tesla Motors Company's electric cars are in demand Ron Baron, Murray Stahl - 2 Gurus Add To Their Stakes In Tesla Motors
Gurus Ron Baron (Trades, Portfolio) and Murray Stahl (Trades, Portfolio) added to their stakes in Tesla Motors (NASDAQ:TSLA) during the third quarter. More...

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Insulet Insider Invests in Company CEO purchases 40,000 shares Jim Simons,Ron Baron - Insulet Insider Invests In Company
Insulet Corp. (PODD) CEO and Chairman Patrick Sullivan (Insider Trades) acquired 40,000 shares of the company on Dec. 2. The price was $33.89 per share for a total transaction of $1,355,600. More...

PATRICK SULLIVAN, INSULET CORP, INSIDER TRADES


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Leukemia Treatment Achieves Promising Results 88% of patients got complete marrow response Ron Baron,NWQ Managers,Joel Greenblatt,David Drema -  Leukemia Treatment Achieves Promising Results
Juno Therapeutics Inc. (NASDAQ:JUNO) communicated through the Business Wire on Dec. 3 that the results from the study undertaken in patients affected with lymphocytic leukemia (CLL) and treated with JCAR014 were promising. More...

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Scott Black’s Top 4 New Holdings of 3rd Quarter Guru’s largest purchase is research and development company Scott Black,Ron Baron,Jim Simons,Paul Tudor Jones, - Scott Black’s Top 4 New Holdings Of 3rd Quarter
Scott Black (Trades, Portfolio), president and founder of Delphi Management, acquired nine new holdings in the third quarter. His top four new positions are Icon PLC (NASDAQ:ICLR), Lionbridge Technologies (NASDAQ:LIOX), Omega Healthcare Investors (NYSE:OHI) and National General Holdings Corp. (NASDAQ:NGHC). More...

SCOTT BLACK, DELPHI, BUYS, Q3


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Scott Black Exits Avnet, Deckers in 3rd Quarter An overview of the guru's largest 3rd-quarter trades Scott Black,Ron Baron,Meridian Funds,Jim Simons,St - Scott Black Exits Avnet, Deckers In 3rd Quarter
Scott Black is the chairman, president, chief investment officer and chief compliance officer at Delphi Management Inc. During the third quarter the guru’s largest trades were: More...

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Baron Energy and Resources Fund Comments on Noble Midstream Partners Guru stock highlight
Noble Midstream Partners LP (NYSE:NBLX) was spun out of Noble Energy, Inc. as an initial public offering during the third quarter. Noble Midstream owns and operates portions of the oil and gas gathering, transportation and processing assets that are primarily located around Noble Energy’s operations in Colorado and Texas. We know the Noble assets extremely well, having been investors in Noble Energy for the past several years and see solid organic and inorganic growth potential at Noble Midstream over the next five years. The primary drivers of distributable cash flow growth at Noble Midstream will come from Noble Energy’s ability to grow oil and gas production volumes in Colorado and Texas, and Noble Midstream’s dropdown acquisitions over the next several years. More...

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Baron Energy and Resources Fund Comments on Forum Energy Technologies Guru stock highlight
Forum Energy Technologies (NYSE:FET) is a U.S.-based oilfield equipment manufacturing company that we think will benefit significantly from the pending upturn in drilling and well completion activity in the U.S. and Canada. It is our opinion that the long downturn in drilling and completion activity came to an end in the second quarter of this year and we expect to see rising levels of activity into year end and throughout 2017. Many of Forum’s products are critical consumable components that are used during the well completion and hydraulic fracturing process, and some of its capital equipment products are in high demand as customers seek to upgrade and refurbish equipment that has either been idled or cannibalized for parts. We believe that industry inventories of these products have been depleted in the past two years, which should lead to a quicker turnaround in Forum’s business than in other oilfield equipment and service business, which are still dealing with capacity and inventory overhangs. Not only are we interested in Forum because of the likelihood that its business is one of the first responders to an upturn in activity, More...

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Baron Energy and Resources Fund Comments on Anadarko Guru stock highlight
Anadarko (NYSE:APC) is a U.S.-based independent oil & gas producer that has a more diversified mix of operations than most of its peers. The company has strong onshore positions in some of the most attractive U.S. shale basins, including the Delaware sub-basin in the Permian basin. These positions are complemented by one of the best offshore, deepwater exploration and development teams in the industry, which drove Anadarko’s successful growth in deepwater production in both the Gulf of Mexico and offshore West Africa. In the third quarter, Anadarko purchased the bulk of Freeport McMoran’s deepwater Gulf of Mexico assets for an attractive price, and in doing so, it added assets that will generate substantial free cash flow in the next five years and improved its own liquidity position. This deal removed some of our biggest concerns around Anadarko’s growth and liquidity profiles, which combined with an attractive valuation created the catalyst for us to add the stock back into the portfolio. We think that Anadarko now offers a great combination of accelerating growth and improving returns at a solid discount to both net asset More...

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Baron Energy and Resources Fund Comments on Barrick Gold Corp Guru stock highlight
Shares of gold mining company Barrick Gold Corporation (NYSE:ABX) fell during the third quarter in concert with a decline in gold prices. Gold prices surged following the Brexit vote in late June. As equity markets recovered, concerns over Brexit eased, and concerns regarding less accommodative monetary policies rose, gold and gold equities weakened. We believe it is prudent to maintain a modest exposure to gold at this time. We think the shares are attractively valued based on our outlook for gold pricing, Barrick’s growing gold volumes, and falling cost structure. More...

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Baron Energy and Resources Fund Comments on Core Laboratories N.V. Guru stock highlight
Core Laboratories N.V. (NYSE:CLB) is a leading provider of core and fluid analysis to the oil and gas industry. Shares fell on moderated short-term growth and margin recovery estimates and reduced revenue guidance. Core Labs dominates its niche, has limited competition, provides value added, non-commoditized services, and generates the highest returns on equity and capital in the industry. We believe strong secular growth drivers in each of its three businesses will allow it to outgrow other oilfield service companies while generating premium returns. More...

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